- Well, I'm a local. I always frequent the casinos off the strip, and I've won $10,000 (on a penny slot). $2800 (on another penny slot). And $5600 (again, a penny slot).
- How Real Money Slots Became the Most Popular Slots Game in America Player News October 31, 2020 by Jonathan Clerk Comments are Disabled Slot games are so popular most US casinos, both online and land-based, seem to be built around them.
- Top 15 Las Vegas Casinos with the Best Odds of Winning. Las Vegas is one town that everyone has to travel to at least one time in their life. The lights and the action are something that everyone can get a kick out of. In recent years, the gritty undertones have been replaced with an almost Disney feel.
- As you can see, the machines in downtown Las Vegas pay out more than those located on the Las Vegas Strip. NEVADA - Laughlin. Below is information supplied by Nevada’s State Gaming Control Board, it shows the slot machine payback percentages for all of Laughlin’s casinos for the fiscal year beginning July 1, 2019 and ending June 30, 2020.
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Free Odds & Lines from Las Vegas and Global Sportsbook provided by VegasInsider.com, along with more information for your sports gaming and betting needs.
Las Vegas slot machines are known by a variety of names around the world. Slot machines in Australia are generally referred to as video poker, poker machines or pokies. In Japan it is known as pachisuro. In Britain, they are usually known as Fruit machines, Bandits and AWP (Amusement with Prizes)
Traditional slot machines are coin-operated machines with three or more reels, which spin when a lever on the side of the machine is pulled.
Las Vegas slot machines which are considered modern slot machines are designed to look and feel like the old mechanical models, but they work on a completely different principle. The outcome of each pull is actually controlled by a central computer inside the machine, not by the motion of the reels.
The positions the reels will come to rest on are chosen by a Random Number Generator (RNG) contained in the machine's software. The RNG is constantly generating random numbers, at a rate of hundreds or maybe thousands per second. As soon as the lever is pulled or the 'Play' button is pressed, the most recent random number is used to determine the result. This means that the result varies depending on exactly when the game is played. A fraction of a second earlier or later, and the result would be different.
What does all this mean, you ask? It means,
Las Vegas slot machines have one of the worst House Advantage. That means the odds are always in the slot machine's favor.
There is no reward for playing longer. Each play is an independent event with the same odds of winning or losing as every other play on that game.
Persistence doesn't pay off. The result of your previous play or series of plays doesn't determine what happens on your next play.
There is no way to tell which slots are wining machines. Slots are never 'due for a win' and they don't 'go cold' after a win.
The location of the slot machine, whether it's on the Strip, off the Strip or Downtown affects the outcome of a game.
Las Vegas slot machines have one of the worst House Advantage. That means the odds are always in the slot machine's favor.
There is no reward for playing longer. Each play is an independent event with the same odds of winning or losing as every other play on that game.
Persistence doesn't pay off. The result of your previous play or series of plays doesn't determine what happens on your next play.
There is no way to tell which slots are wining machines. Slots are never 'due for a win' and they don't 'go cold' after a win.
The location of the slot machine, whether it's on the Strip, off the Strip or Downtown affects the outcome of a game.
Now, here is the news you don't to hear. There is really no strategy to out smart the slot machine. However what we can show you are some wining tips on playing slot machines.
One of the questions visitors to Las Vegas ask is, where are the loose slots. Loose slots are Slot machines with above-average pay outs.
It's a fact that Las Vegas Slots differ in their payouts. Generally the odds of wining any prize on Las Vegas Slot Machines are approximately 1 in 5. However the odds to wining a top prize on a red, white and blue slot machine, for example, are only 1 in 373,248.
Some slot games pay smaller prizes more frequently and offer more bonus games (Loose Slots). Other machines pay out more often in the middle and top prize categories. It's important to mention that the chances of winning smaller prizes on slots are greater than the chances of winning top prizes.
Tips for Wining Big on Slot Machines
Use your Player's club card
Play two-coin, three reel, one payline slot machines.
Stay away from three-coin machines unless they are progressive machines.
Don't play more than one machine at a time.
Always play the maximum coins.
Always play machines that show double up symbols.
Don't play nickel slot machines. (check the house advantage here)
Play two-coin, three reel, one payline slot machines.
Stay away from three-coin machines unless they are progressive machines.
Don't play more than one machine at a time.
Always play the maximum coins.
Always play machines that show double up symbols.
Don't play nickel slot machines. (check the house advantage here)
The Slot Expert's Guide to Winning at Slots
The Best Number of Coins to Play in Slots
Type of Machine | Rules and Reasons |
---|---|
Progressives | Play maximum coins. If you play don't play maximumcoins, you're only increasing the jackpot for someone else with nochance of winning it yourself. |
Straight Multipliers | Play one coin at a time. The payback and hitfrequency are the same regardless of the number of coins you play. |
Bonus Multipliers | Play one coin at a time. The chances of hitting apayout with a bonus are so small, it's not worth the extra risk. |
Buy-A-Pays | Play maximum coins. The increase in payback andhit frequency purchased by the additional coins can turn a terriblemachine into a good one. |
Hybrids | Play just enough coins to activate all winningcombinations. Extra coins are rarely worth playing in amultiplier, and hybrids are multipliers when you're in themultiplying section of the paytable. |
Hidden Buy-A-Pays | Play maximum coins. The feature activated byplaying the last coin frequently makes the last coin pay back over100%. |
Multilines | Play one coin or maximum coins. Play maximum coinsif having winning combinations land on paylines you didn't activatebothers you, otherwise play one coin. |
Multicoin/Multilines | Play one coin each on as many lines as you like. Play one coin on each line if having winning combinations land onpaylines you didn't activate bothers you, otherwise play one coin.If there's a Hidden Buy-A-Pay, play enough coins to activate it. |
![Best odds in vegas slots Best odds in vegas slots](https://www.cheatsheet.com/wp-content/uploads/2016/04/slot-machines-640x427.jpg?x28171)
Source: John Robison - www.Robison.CasinoCityTimes.com
Slots Machines House Advantage and Expected Lose
House Advantage | For Every $100 bet, the player can expect to lose | |
---|---|---|
Penny Slots | 8%-12% | $8 - $12 |
Nickel Slots | 6%-12% | $6 - $12 |
Quarter Slots | 5%-10% | $5 -$10 |
Dollar Slots | 2.5%-6% | $2.50 -$6 |
Take a different twist on the increasingly popular game of poker and play your favorite video reel games at most Las Vegas Casinos. Choose from the hottest Vegas video reel games and slot machines. You'll find all your favorites, plus progressives and video poker in a wide range of denominations. Video poker provides all the strategy of poker but at your own pace.
Did you know..
The largest Las Vegas slot machine jackpot ever, was paid on a Megabucks machine at the Excalibur Hotel, for $39,713,982.25 on March 21, 2003. More Las Vegas Facts.
The largest Las Vegas slot machine jackpot ever, was paid on a Megabucks machine at the Excalibur Hotel, for $39,713,982.25 on March 21, 2003. More Las Vegas Facts.
Do you know .. your chances of hitting a winning combination are the same on every spin.
- Appendices
- Slots Analysis
- Miscellaneous
Introduction
Las Vegas Slot Machine Odds
This page investigates the odds of the progressive jackpot slot machine, Megabucks, including the average jackpot and breakeven point.
Free slots for android phone. For now, let's ignore the fact that a jackpot is paid by installments over 25 years and that the jackpot would be subject to income tax.
I don't know exactly how Megabucks is programmed. However, there is some information that is public knowledge. If we fit the pieces together, we can make a pretty good estimate of the point at which the return is 100%, known as the 'breakeven point.' Here is what we do know:
- According to John Robison, the probability of hitting the jackpot is 1 in 49,836,032. This figure comes from an article titled Megabucks closes in on record jackpot from the Las Vegas Sun, Dec. 24, 1999. That probability comes to (1/368)3, implying each reel has a 1 in 368 chance of stopping on the jackpot symbol.
- The Nevada Gaming Control Board indicates that the profit of Megabucks on both a percentage and dollar basis. The following is a summary for 1994 to 2009.
Megabucks Win — 1994 to 2009
Year Win ($) Win (%) 2009 53,352,000 10.43% 2008 83,981,000 11.85% 2007 88,858,000 12.72% 2006 100,923,000 12.39% 2005 100,923,000 12.39% 2004 67,326,000 10.54% 2003 83,069,000 10.41% 2002 76,842,000 11.98% 2001 69,821,000 11.50% 2000 69,103,000 9.75% 1999 74,921,000 12.28% 1998 134,943,000 12.25% 1997 66,166,000 12.18% 1996 57,619,000 10.03% 1995 65,223,000 10.48% 1994 46,760,000 9.44% total 1,239,830,000 11.39% The key piece of information from this table is that the overall profit of the game has been 11.39%. In other words, 88.61% is returned to the players. - According to defunct source, starting in September 2005, Megabucks was reset to a jackpot of $10 million. Before that, the reset value was $7 million.
- According to a2zlasvegas.com, there have been 11 jackpots hit between September 2005 and the date of the last jackpot (Feb. 21, 2010). That same website shows a jackpot was hit on September 15, 2005. The number of days between then and the time of this writing is 1,619 days. We also see from that website that the total of the last 11 jackpots was $167,367,727. Of that, $110,000,000 was from the reset amounts and $57,367,727 was from the progressive contribution.
The portion of money returned to players in form of jackpots is thus $167,367,727/$1,644,589,056 = 10.18%. From the Nevada Gaming reports, we know a total of 88.61% is returned to players. That means that the portion returned to players in non-jackpots is 88.61% - 10.18% = 78.44% (The 0.01% apparent difference is due to rounding).
If there were no small wins, and no progressive contribution, then the return of the game would be $10 million/(3×(1/368)3) = 6.69%. As already shown, the total return from jackpots is 10.18%, leaving 3.49% coming from the jackpot meter. Here is a summary of where each $1 bet on Megabucks goes:
Megabucks Breakdown
Item | Cents |
---|---|
Fixed wins | 78.44¢ |
Meter reset | 6.69¢ |
Progressive contribution | 3.49¢ |
Profit | 11.39¢ |
Total | 100.00¢ |
The average point at which the jackpot will hit is 10 million + [$3 × 0.0349 / (1/368)3] = $15,215,248. In 2006, when the jackpot was almost $16 million, IGT, Megabuck's creator, purchased ads in the local media stating that the jackpot was 'overdue' to hit. I'm quoted in a Las Vegas Sun article about it, titled 'Pennies ready to pop'. This would seem to indicate my $15.2 million figure is not far off.
Las Vegas Slot Machine Odds
If j is the jackpot at which the game becomes a fair bet, with a 100% return, then we can solve for j as follows:
1 = 0.7844 + j × (1/368)3/3
j × (1/368)3/3 = 1 - 0.7844
j = 3 × (1 - 0.7844) / (1/368)3
j = $32,238,319.
j × (1/368)3/3 = 1 - 0.7844
j = 3 × (1 - 0.7844) / (1/368)3
j = $32,238,319.
The probability of any given jackpot growing this big is 1.41%. At the current rate of play, a jackpot should get this big once every 29 years, on average.
At any given time the return can be estimated as 78.44% + 0.6689%×m, where m is the number in millions of the current jackpot. For example, at a jackpot of $15 million, the return would be 78.44% + 0.006689×15 = 88.47%.
Everything in this page should be taken as a ballpark estimate. Various factors could cause it to be off, including players not betting the full $3 and the fact that while 11 jackpots were hit in the study period, the expected number could be higher or lower.
It also bears repeating that the above does not factor in the annuity or taxes. Let's look at what happens if we do consider those factors. For the time value of money, let's use the return on long-term Treasury Bills. Megabucks jackpots are paid in a 25-year annuity. At the time of this writing a 20-year T-Bill paid 4.58% interest, and a 30-year one paid 4.74%. Let's split the difference at 4.66%. Using some actuarial math I won't get into, the value of the annuity is worth 61.07% of face value, based on that interest rate, and 25 annual installments, at the beginning of each year.
For taxes, let's assume close to the expected jackpot of $15 million. Under 2010 income tax rates, assuming the winner is filing jointly, and all other income exactly equals deductions, the taxes due will be 30.05% for 2010. Assuming no change in the tax law, that will drop over time, because the tax brackets will be adjusted upward, but the winning payments won't be. I tend to think the recent passage of health care will increase tax rates, especially on large incomes. Let's just assume those factors cancel each other out, to keep it simple.
So to keep things in round numbers, the winner will keep 61% after the annuity, and 70% of that after taxes. So the jackpot winner will see about 61% × 70% = 42.7% of his winnings in current dollars. Factoring the annuity and taxes, the breakeven point becomes $75.5 million. The probability of any given jackpot growing that big is about 1 in 283,000, and will happen once every 114,000 years. Again, I'm making lots of assumptions, so these estimates should be considered very rough.
After publishing this article, a reader quoted a page at slot-machine-resource.com, which states that after the first installment is made, the player is given the option to get 60% of the rest immediately, or stick with the installment plan. Tax implications aside, which favor the annuity, the interest rate at which the two options are equal is 4.581%.
External Links
Las Vegas Casino Slot Machine Odds
- Megabucks Closes in on Record Jackpot from the Las Vegas Sun, Dec. 24, 1999.
- Nevada Gaming Control Board
- Slots Payout percentage, from Cassaon Casino.
- History of Megabucks Jackpots, from a2zlasvegas.com.
- Pennies Ready to Pop, from the Aug. 9, 2006 Las Vegas Sun.
- Megabucks, from slot-machine-resource.com.